Hoyer re-appointed as President of European Investment Bank Group

BRUSSELS, July 27 (KUNA) -- Werner Hoyer is going to lead the European Investment Bank (EIB) for another six-year term, starting January 1st, 2018.
He was reappointed Thursday by the Board of Governors of the EIB, consisting of the Economy and Finance ministers of the 28 EU Member States, said an EIB press release.
Hoyer, from Germany, started his tenure as President of the bank in January 2012, and is also the Chairman of the EIB's Board of Directors.
Over the last five and a half years, he has overseen a huge expansion and transformation of the Luxembourg-based bank, with the EIB Group's annual financing increasing from EUR 55 billion (USD 64 billion) to EUR 84 billion (USD 98 billion) since 2012, it noted.
The annual investment supported by this financing increased from EUR 169 billion (USD 198 billion) to EUR 287 billion (USD 336 billion) over the same period.
The EIB is the long-term lending institution of the EU and is the only bank owned by and representing the interest of the EU member states. (end) nk.hb